AbbVie Inc. (NYSE:ABBV) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,025 shares of the company's stock after selling 2,660 shares during the quarter. New England Asset Management Inc.'s holdings in AbbVie were worth $3,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Czech National Bank raised its holdings in AbbVie by 6.5% in the fourth quarter. Czech National Bank now owns 383,151 shares of the company's stock valued at $68,086,000 after acquiring an additional 23,328 shares in the last quarter. Aprio Wealth Management LLC grew its position in shares of AbbVie by 5.8% during the fourth quarter. Aprio Wealth Management LLC now owns 5,507 shares of the company's stock worth $979,000 after acquiring an additional 301 shares during the last quarter. Matrix Trust Co raised its position in AbbVie by 3.1% in the 4th quarter. Matrix Trust Co now owns 13,839 shares of the company's stock valued at $2,459,000 after purchasing an additional 420 shares during the last quarter. Winthrop Advisory Group LLC boosted its stake in shares of AbbVie by 34.3% during the fourth quarter. Winthrop Advisory Group LLC now owns 4,494 shares of the company's stock worth $799,000 after buying an additional 1,149 shares during the period. Finally, Fiduciary Alliance LLC lifted its position in AbbVie by 223.4% during the 4th quarter. Fiduciary Alliance LLC now owns 15,847 shares of the company's stock worth $2,816,000 after acquiring an additional 10,947 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Guggenheim raised their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Raymond James reissued an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Stock Up 2.3%

Shares of ABBV stock traded up $4.08 on Thursday, hitting $181.52. The stock had a trading volume of 12,067,887 shares, compared to its average volume of 6,232,171. The stock's 50 day moving average is $192.59 and its 200-day moving average is $187.16. The firm has a market capitalization of $321.10 billion, a price-to-earnings ratio of 75.63, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.